Yachting | 2021
Streifzug: As an insurance company you will get an unfiltered insight into the yacht industry. How did the unusual year 2020 turn out?
Sandra Ahrabian: Very well, I must say. People have been buying boats and yachts fluently and that is why BAVARIA AG has come through this crisis excellently so far. We are moving on our course already planned for 2019.
Streifzug: Was there a time when your offers were more in demand again after the first hit of the pandemic?
Sandra Ahrabian: Yes, from mid-April/beginning of May I would say. Especially German, Austrian and Scandinavian customers asked for insurance, mainly for used boats. When we talked to the customers about their motivation to buy, the uncertain travel and holiday situation was often mentioned. An own boat, it was said, was probably the safest way to go on holiday. Cocooning with social distancing could perhaps be called the trend…
This development continued uninterruptedly even despite the almost complete closure of ports throughout Europe, the second-hand boat market seemed to be somewhat “empty”. Then the market for large yachts, with sums insured of up to around 10 million euros, also picked up.
Streifzug: Without events and trade fairs, it is certainly also complicated for BAVARIA AG to advise customers. How do you solve this?
Sandra Ahrabian: In times of increasing digitalisation, the insurance industry is also increasingly relying on internet-based consulting services. For some time now, BAVARIA AG has also been offering the possibility of holding personal consultations via video calls. After all, our great strength is the personal interaction with our customers.